| Under the agreement, Locuz shares will be converted into Choice shares at a fixed exchange ratio of 2 shares of Choice for each share of Locuz. The new entity will operate under the name Locuz-Choice Solutions Limited. |
| "The merger plan is yet to receive the approval of the regulatory authorities. Once this trajectory is completed, which is likely to take a couple of months, the combined entity is expected to have an equity base of between Rs 12 crore and Rs 14 crore on its balance sheet by the end of this fiscal," Vijay Kumar Wadhi, chief executive officer of Locuz, told mediapersons here on Thursday. |
| While Locuz has been a specialist in IT infrastructure solutions since inception in 2000, the 16-year-old Choice Solutions is an end-to-end solutions provider. Last year, Locuz registered a turnover of Rs 42 crore and Choice Rs 53 crore. |
| This synergy is expected to increase the financial strength of the combined entity to compete in large value deals. |
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